Wrongdoing in Publicly Listed Family- and Nonfamily-Owned Firms: A Behavioral Perspective
نویسندگان
چکیده
We integrate research on family-owned firms (FOFs) and the Behavioral Theory of Firm (BTOF) to study wrongdoing—a specific dimension corporate social responsibility (CSR) associated with destructive risk—in family- versus nonfamily-owned (NFOFs). argue that FOFs are likely respond differently from NFOFs risks because in addition concern for economic costs benefits, uniquely concerned socioemotional wealth (SEW) accruing noneconomic benefits their actions. Furthermore, we differences behavior dependent upon whether nature risk a is destructive, as case wrongdoing, productive, other previously examined behaviors such development [R&D] investment, diversification, or internationalization. Our analyses, based 17,022 observations sample 1,900 publicly traded U.S. 1999 2016, provide robust empirical support these predictions, showing commit less wrongdoing than nonfamily counterparts performance relative aspirations regarding way varies responses prior studies. thereby advance literatures BTOF by explaining how family owners’ decisions change depending type behavior— integrating additional aspiration related SEW into predictions tell more complete story organizational perspective. By focusing CSR, our findings also have implications CSR they show importance responsibilities shifts according (and trade-offs) those responsibilities.
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ژورنال
عنوان ژورنال: Entrepreneurship Theory and Practice
سال: 2023
ISSN: ['1540-6520', '1042-2587']
DOI: https://doi.org/10.1177/10422587221142230